If you are reading this, then you are struggling to choose between an MBA and an MHA. First things first: both options offer a world of great possibilities as these are time-tested pathways to improve and expand not only your earning potential but also your career profile. With that said, if you are looking for the ideal master’s program to attain better earning potential along with a stronger career profile, then you must choose between an MBA and an MHA degree.
MHA vs. MBA What to Expect
When it comes to the debate of MBA vs. MHA degrees, you should understand where the focus points of both degrees lie. As an MHA, you will essentially specialize in healthcare administration, which is why you must carefully define your career goals in healthcare and see whether an MHA aligns with your educational and career aspirations and interests.
An MBA, compared to the MHA degree, provides an in-depth understanding of business principles. However, you will be covering business-related healthcare topics, such as healthcare finance and management of health systems. The coursework is pretty much similar; however, the context is going to be focused on healthcare administrations. Masters of Business Administration is really going to be focused on commercial entities; however, there is an increasing focus on not-for-profits and things like that.
An MHA Will Enable You to Move Up the Chain of Command
If you are looking for optionality, then an MBA is definitely the better option. If you do a masters in health administration, it is really going to be focused on the healthcare industry. With that said, the healthcare industry is huge. If you are already working in the healthcare industry as a nurse or a physician, it will make perfect sense to opt for an MHA, as it will enable you to move up the chain of command at your organization or at your healthcare institute.
Now, nurses or physicians might opt for an MBA, too; however, this is less common than one would think. However, there is a lot of benefit to that as well.
An MBA Will Enable You to Master Management Capabilities
An MBA is seen as a generalist degree that ensures students develop an in-depth understanding of business and managements processes that they would not be able to learn with an MHA. This aspect perfectly exhibits why an MBA graduate finds it easier to transition into a wider range of industries that are not even related to healthcare.
However, if you decide to get an MBA with a focus on healthcare administration, then you are all set to not only pursue a career in healthcare but also improve your skills and ace general management skills.
Get Enrolled with the University of Phoenix for Your Master’s
It doesn’t matter whether you are aspiring to pursue an MHA or an MBA with a healthcare specialization; choosing the right university is incredibly important, which is where the University of Phoenix comes in. The university offers students the option of concentrating on theoretical studies in their desired health-focused disciplines, including a degree in healthcare administration.